How To Get Financial Aid From The University Of Pennsylvania

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1 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS AL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF Information for Financial Aid Recipients An investment in knowledge always pays the best interest. Benjamin Franklin CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018

2 AID FINAN- TION FOR ORMA- F 2018 S CLASS CIPIENTS AID RE- INANCIAL FOR FI- RMATION 8 INFOR- S OF 2018 S CLASS CIPIENTS AID FINAN- TION FOR ORMA- F 2018 S CLASS CIPIENTS AID RE- INANCIAL FOR FI- RMATION 8 INFOR- S OF 2018 S CLASS CIPIENTS AID FINAN- TION FOR ORMA- F 2018 S CLASS CIPIENTS AID RE- INANCIAL FOR FI- RMATION 8 INFOR- S OF 2018 S CLASS CIPIENTS AID RE- NANCIAL Congratulations on your admission to Penn! On behalf of Student Registration and Financial Services, welcome to the University of Pennsylvania. We are pleased to provide the enclosed financial aid award, which was determined upon review of your financial aid application. This booklet explains your financial aid award. You should read this material carefully to gain a good understanding of the terms of your award. In addition to explaining your award, this booklet outlines your next steps to finalize and disburse your aid. Information about payment options is also included. To review your financial aid award online, use our interactive financial planning tool, PennPlan online. Log on to this secure site through the Office of Admissions website at and select PennPlan online. We encourage you to read our literature, explore PennPlan online, and visit our website where you can askben questions 24/7. We look forward to helping you pay for your Penn education. Sincerely, Joel B. Carstens University Director of Financial Aid PENN S NO-LOAN POLICY The Class of 2018 will be the sixth class enrolled under Penn s no-loan financial aid policy. Penn is the nation s largest university with a program that enables dependent undergraduates eligible for aid to receive loan-free aid packages for eight academic semesters. The policy applies to dependent undergraduate students in the College of Arts and Sciences, the School of Nursing, the School of Engineering and Applied Sciences, and the Wharton School, who are pursuing their first baccalaureate degree. The No-Loan policy demonstrates Penn s commitment to widen access for qualified students from all economic backgrounds. 100 FRANKLIN BUILDING WALNUT STREET. PHILADELPHIA, PA FAX SFSMAIL@EXCHANGE.UPENN.EDU.

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4 contents COST OF ATTENDANCE...pg. 1 HOW FINANCIAL NEED IS DETERMINED...pg. 2 TO FINALIZE YOUR FINANCIAL AID AWARD...pg. 3 SUMMER FINANCIAL AID PROGRAM...pg. 3 CONTINUING FINANCIAL ASSISTANCE IN FUTURE YEARS...pg. 3 FINANCIAL AID FUNDS...pg. 4 Grants Penn Grant and University Named Scholarships...pg. 5 Federal Pell Grant...pg. 5 Federal Supplemental Educational Opportunity Grant (SEOG)...pg. 5 State Grant Programs...pg. 5 Mayor s Scholarships pg. 5 Outside Scholarships...pg. 6 Taxability of Grants...pg. 6 Jobs Work Study...pg. 6 A WORD ABOUT LOANS...pg. 7 PAYMENT OPTIONS...pg. 8 Comparison Chart...pg. 8 Worksheet Instructions...pg. 9 Worksheet...pg. 10 HOW TO APPLY FOR A STATE GRANT pg. 11 HOW TO FILE A FAFSA...pg. 12 RECEIVING AND PAYING YOUR BILL...pg. 13 LEGAL STATEMENTS...pg. 14 SRFS MUST DO LIST...pg. 15 CHECKLIST FOR THE NEXT STEPS...pg. 16 HOW TO CONTACT STUDENT FINANCIAL SERVICES...pg. 17 OTHER CONTACTS...pg. 19 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLA OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 20 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLA OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 2018 CLASS OF 20

5 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANC INFORMATION FOR FINANCIAL AID RECIPIENTS Cost of Attendance Cost of Attendance for Academic Year Living On/Off Campus Living with Family Tuition and Fees $47,668 $47,668 Housing 8,688 0 Meals 4,776 2,264 Books 1,220 1,220 Personal Expenses 1,848 1,848 Total Cost $64,200 $53,000 Tuition and fees are fixed costs. These mandatory fees include the general fee, recreation fee, student health clinical fee, and the educational technology fee. The housing allowance is based on the median room rate in the University College Houses. To stay within the allowance, be conscious of your room selection and choose it by the Penn Housing deadline. The meal allowance represents the cost of one of the first year dining plans through Penn Dining. If you live at home with your family, an allowance for meals away from home is included. The book allowance represents the annual cost of textbooks. Personal expenses include allowances for clothing, laundry, and recreation. Other Expenses Other expenses not included in the cost of attendance are: laboratory fees for certain courses, the College House Program fee if you live in College Housing, the New Student Orientation fee, and student health insurance if you are not covered under your parents plan. Upon request, financial aid may be available to assist you with these costs. For an explanation of fees, please askben on the SFS website. Student Health Insurance As a condition of enrollment, all full-time students must submit health and immunization records, maintain coverage for out-patient medical care through the Student Health Service, and health insurance coverage for in-patient and catastrophic care. If you are not covered under a policy that meets University requirements, you will automatically be enrolled in the Penn Student Insurance Plan (PSIP). Details are available at the Student Health Services website at 1 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018

6 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS IAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 How Financial Need is Determined Financial aid is awarded based on your evaluated financial need. Your need is calculated by subtracting your family contribution, as determined by Penn, from the cost of attendance. Family Contribution Cost of Attendance (COA) Family Contribution = Financial Need The University of Pennsylvania endorses the principle that education is first and foremost the responsibility of you and your family. Therefore, Penn awards financial aid to supplement, not to replace, your family s ability to pay. Our goal is to assist as many families as possible in a fair and equitable manner. Your total family contribution includes contributions from both you and your parents. Your parental contribution is determined by considering income, assets, family size, number of dependent children in college or private school and the cost of each school, all taxes paid, and special circumstances. Your student contribution includes a portion of student assets, a portion of student income from dividends and interest, and savings from summer of 2014 employment. Penn generally expects you to save $2,500 from your summer earnings. Reevaluation of Financial Assistance Penn s financial assistance program includes both need-based financial aid and payment options. You should consider all types of programs when assessing your capacity to meet Penn s costs. We strive to be as responsive as possible to each family s situation. While it may not be possible for us to adjust your aid, we can consider requests for reevaluation of the expected family contribution when: Your family has experienced a change in financial circumstances, such as unemployment, reduction in income, or recent divorce or separation OR Your family has extenuating circumstances that distinguish them from other families of similar income and characteristics and were not considered in the initial determination of aid eligibility. To request a reevaluation of your financial aid eligibility, submit for an Application for Reevaluation. If you and your parents have not yet submitted 2013 federal tax returns to Penn, you must submit them with the application. Include all pages, schedules, and W2 forms. The Application for Reevaluation can be found in the Forms section of the SFS website. Penn accepts reevaluation requests at any time throughout the year if your family experiences a change in financial circumstances. INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF

7 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL MATION FOR FINANCIAL AID RECIPIENTS Financial Aid To Finalize Your Financial Aid Award To finalize your award, please submit the following: Tax Returns If you and/or your parents filed a US 2013 federal income tax return, and have not yet submitted it, please do so as soon as possible. See the checklist on page 16 for instructions. Your award may be adjusted if the information on your tax return differs from what was previously reported on your financial aid application. Certification of Sibling Enrollment If you have a sibling enrolled in college, your financial aid award was most likely based on this information. As plans sometimes change, Penn will request certification from your sibling s school in August. Your award will be adjusted in cases where information on the certification form differs from what was previously reported on your financial aid application. Summer Financial Aid Program Our financial aid commitment is to aid you for the academic year. We have a very limited summer financial aid program consisting of loan. If you are considering enrolling in summer sessions, keep in mind that you will incur debt. Financial aid applications for summer sessions are available on our website in March. Continuing Financial Assistance In Future Years Your financial aid eligibility should be similar throughout your undergraduate years, as long as your family s financial situation remains somewhat the same. You should expect some increase in the work-study component of your aid package each year. Students should note that summer savings expectations are higher for returning upperclass students than for entering freshmen since the summer break is typically longer for enrolled students. To continue to receive aid, you must submit a financial aid application and tax returns each year. Financial aid application materials for will be available on our website in January The application deadline will be April 22, 2015 and notification will begin in June. 3 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018

8 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFO Financial Aid Funds Eligibility for Federal Funds To be eligible for assistance from any of the following federal aid programs: Federal Pell Grant Federal Supplemental Educational Opportunity Grant (SEOG) Federal Direct Loan Federal Work-Study (FWS) You must: File a FAFSA Make satisfactory academic progress Not be in default on a Federal Perkins, Stafford, or Direct Loan Not owe a refund on a Pell Grant or Supplemental Educational Opportunity Grant (SEOG) Eligibility for State Funds You may be eligible for a state grant if you are a resident of Connecticut, Delaware, the District of Columbia, Massachusetts, Ohio, Pennsylvania, Rhode Island, Vermont, or West Virginia. See page 11 for deadlines and details. Eligibility for Institutional Funds You will be considered for Penn funds based on your financial need as determined by Penn. INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF

9 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL MATION FOR FINANCIAL AID RECIPIENTS Financial Aid Funds Grants Penn Grant and University Named Scholarships These awards are made from either general University funds, or specific funds earmarked by the donor for financial aid. Both Penn Grant and Named Scholarships are awarded based on evaluated financial need; however, some donors may stipulate additional criteria (i.e. school, major, etc.). Federal Pell Grant Eligibility for this federal grant is determined by the US Department of Education and is based on your FAFSA data. The Pell Grant on your financial aid notice is an estimate. Actual credit will be applied to your student account after your FAFSA information has been verified according to federal regulations. Enrollment in fewer than four credit units a semester will affect the amount of your Pell Grant. University Grant/Scholarship will not be available to replace a Pell Grant if you are considered eligible but do not apply, or apply late. Therefore, be certain to file and sign a FAFSA by April 15, following the instructions on page 11. Federal Supplemental Educational Opportunity Grant (SEOG) Recipients of this federally funded grant are selected by Penn based on evaluated financial need. State Grant Programs The amount of the state grant shown on your financial aid notice is an estimated amount. If you receive a state grant that is different from our estimate, or is not included in your award, your University grant will be adjusted so that your total grant aid remains the same. If you are a resident of the District of Columbia or the states of Connecticut, Delaware, Massachusetts, Ohio, Pennsylvania, Rhode Island, Vermont, and West Virginia, you must apply for a state grant. Eligibility for these grants is based on your FAFSA. The District of Columbia and Vermont also require a state application. University Grant will not be available to replace state grant funds if you miss the deadline. See page 11 for instructions. Mayor s Scholarships Mayor s Scholarships are awarded to Philadelphia residents who graduate from high schools in Philadelphia or contiguous Pennsylvania counties. The Mayor s Scholarship Committee, whose members are appointed by the Mayor of Philadelphia, selects scholarship recipients. The amount of the scholarship is based on financial need, as determined by Student Financial Services. Scholarships are renewable for the upperclass years as long as the recipient continues to demonstrate financial need, although the amount may vary based on a review of the family s financial circumstances. 5 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018

10 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFO Financial Aid Funds Outside Scholarships Need-based financial aid is awarded to supplement financial resources from parents, students, and outside scholarship donors, including employers. Therefore, financial aid recipients are expected to help meet their educational expenses from all possible sources. To search for outside scholarships, see the back cover for websites. When you receive an outside scholarship (i.e., scholarships awarded from non-governmental sources outside the University), you will receive a dollar-for-dollar reduction in the self-help component of your financial aid package. Self-help includes expected savings from summer earnings and work-study. University grant will be reduced only after all self-help has been eliminated. You are required to report all scholarships or grants awarded to you from any source outside the University. Be sure to notify your scholarship donor to forward correspondence and checks to: Student Financial Services, Outside Scholarship Office University of Pennsylvania 140 Franklin Building 3451 Walnut Street Philadelphia, PA Taxability of Grants Students receiving financial assistance should be aware that total grant aid in excess of tuition, fees, books and supplies required for courses of instruction is subject to US federal income taxation. In some cases, the University is required by the Internal Revenue Code to withhold federal income tax on grant awards to non-resident students. Consult a tax advisor if you have any questions. Jobs Work-Study Student Financial Services awards you a work-study amount for the academic year (fall/spring). Work-study credit is not applied to your student account bill; you will be paid directly each week based on the actual hours you work. For details, review the Student Employment website at While we encourage you to use your work-study award, you may decide to replace part, or all of it with a Federal Direct Loan. Review A Word About Loans on the next page, then contact our office if you want to replace your work-study job with a loan. INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF

11 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL MATION FOR FINANCIAL AID RECIPIENTS A Word About Loans Penn s No-Loan Policy Penn s no-loan policy ensures that dependent undergraduates do not need to borrow to meet their demonstrated financial need. If You Decide To Borrow Many students choose to borrow to help defray their family s contribution or other expenses. We recommend that you borrow only what you need, even if you are eligible for a higher amount, and only to accomplish a specific goal, such as: in lieu of using your work-study job to replace all or part of your family contribution, including expected summer earnings to cover approved expenses not included in the standard cost of attendance Types of Loans Federal Loans Federal loans (Direct Loan for students and the Direct PLUS Loan for parents) should be your first choice. They generally offer the best terms, as well as loan consolidation and flexible repayment options. See the next page for more information. Alternative Educational Loans A number of private lenders and other financial institutions offer education loans to students. These loans are not subsidized and may carry higher interest rates and fees than federal loans. A co-signer is often needed. If you think you need an alternative loan, visit the loans section of our website at Home Equity Loans or Lines of Credit These loans are secured by home equity and can offer tax advantages and longer repayment schedules. Consumer Education Loans These loans are marketed by lenders who by-pass the schools, mailing information directly to you and your family. These are generally the least desirable loan products. Repaying Your Loan Penn students have found loan repayment to be manageable. The default rate for Federal Direct Loan borrowers at Penn is under one percent, well below the national average. Student Loan Interest Deduction Federal tax law allows a deduction for interest paid on educational loans when borrowers are below certain income levels. Additional information on the deduction is available in the Special Policies section of our website. For More Information We urge you to educate yourself about student loans and repayment. These websites offer additional information that is helpful: INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018

12 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFO Payment Options Comparison Chart Eligibility Amounts Student Program Federal Direct Loan US citizen or permanent resident Enrolled at least half-time in degree program Grade Level Annual Maximum for Dependent Students Annual Maximum for Independent Students Limit on Subsidized Amount Freshmen $5,500 $9,500 $3,500 Sophomore $6,500 $10,500 $4,500 Jr./Sr. $7,500 $12,500 $5,500 Note: The annual maximum may not exceed Penn s cost of attendance less any other financial assistance you receive. Federal Direct PLUS Loan Parent Programs US citizen or permanent resident Enrolled at least half-time in degree program No adverse credit history Cost of education minus other financial aid Penn Monthly Budget Plan Any Penn student You determine the amount each year Interest Rates* Subsidized 3.86% for loans disbursed July 1, 2013-June 30, 2014 Interest is subsidized by the federal government during in-school period for subsidized loans Unsubsidized 3.86% for loans disbursed July 1, 2013-June 30, 2014 Interest begins to accrue after the first disbursement and may be paid quarterly while in school or capitalized 6.41% for loans disbursed July 1, 2013 June 30, 2014 Fees* 1.072% origination fee 4.288% origination fee $75 enrollment fee Source US Department of Education US Department of Education Repayment To Apply Recommended Deadlines** Subsidized Loans: Begins 6 months after graduation or withdrawal from the University May be deferred for graduate study and in certain other circumstances Graduated and income-sensitive options available Unsubsidized Loans: 6 months after graduation or withdrawal from the University with the option to capitalize accrued in-school interest or to begin interest payments while in school Graduated and income-sensitive options available Up to 10 year repayment term, may be extended through consolidation up to 30 years depending on the amount borrowed File a FAFSA by April 15, 2014 at SRFS will notify you of additional steps in the spring Begins within 60 days after final disbursement File a FAFSA by April 15, 2014 at SRFS will notify you of additional steps in the spring None University of Pennsylvania Over 10 months, beginning in May budget-plan June 15, 2014 June 15, 2014 May 31, 2014 * Rates are scheduled to change July 1, 2014; fees will change October 1, ** Deadlines are recommended in order to receive credit on your initial Fall Term bill. Applications are still accepted after these dates. INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF

13 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL MATION FOR FINANCIAL AID RECIPIENTS Worksheet Instructions As with most major investments, it may be easier to assess affordability after you determine available resources for a down payment, and convert the balance to a monthly payment. The worksheet provides two columns to help you define two alternative plans. Note: You may prefer to complete an interactive worksheet on PennPlan online at How to Use this Worksheet 1. Cost of Attendance for the Academic Year Refer to page 1 for a description of each expense. Add additional expenses you anticipate, such as health insurance, or adjust listed expenses (e.g., if you think you will need additional funds for meals, for example). Not all adjustments will result in a change in your financial aid award. 2. Available Resources Available resources are funds that are readily available. Consider them as your down payment. Include any financial aid you have been offered. Parents Savings and Other Assets Gifts from Relatives Is there a grandparent or other relative willing to invest in your education by means of either an outright gift or lowinterest loan? Consult a financial planner to review the financial advantages and tax consequences. Student Examples of student resources are: Non-wage income: Interest, dividend or trust income are examples of non-wage income. Summer earnings: Savings from summer earnings are an important resource. Federal Direct Loan: The freshman year maximum is $5,500, provided it does not exceed the cost of attendance less any financial aid you receive. See page 8 for details. Financial Aid Enter the amount of financial aid eligibility from your aid notice. Outside Scholarships/Employer Assistance A number of scholarships are available from outside sources. Check the SFS website, your parents employers, your secondary school, fraternal organizations, and other local groups. If you are receiving an outside scholarship or a grant from your parent s employer, and it is not listed on your aid notice, do not include this amount in addition to your financial aid amount. All scholarships and grants awarded to you from any source outside the University must be reported to our office. Your financial aid will be adjusted according to Penn s outside scholarship policy (see page 6). How to Use this Worksheet In order to prevent you from double counting available resources, follow these instructions: Financial Aid From your aid notice, enter the amount of your financial aid. PennPlan online Scan with your smart phone Outside Scholarships and Employer Assistance If you are receiving an outside scholarship or a grant from your parent s employer, and it is not listed on your aid notice, do not include this amount in addition to your financial aid amount. 9 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018

14 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFO Worksheet Complete this worksheet to adjust expenses if needed, and select resources for paying this year s family contribution. We provided two columns so you can lay out two different scenarios. If you have a balance, review the payment options on page 8. You may prefer our interactive worksheet on PennPlan online, available through Cost of Attendance for the Academic Year Option 1 Option 2 Tuition and Fees $47,668 $47,668 Housing 8,688 Meals 4,776 Books 1,220 Personal 1,848 Travel Other + + Total Costs $ $ Less Total Financial Aid (from aid notice) $ $ Estimated Amount To Be Covered By Your Family 1. $ $ Resources Readily Available for Your Family Contribution Parents savings and assets $ $ Gifts from relatives Student s savings and assets Student non-wage income Summer of 2014 employment Federal Direct Loan (optional) The maximum freshman amount is $5,500, provided it does not exceed the COA less any financial aid you receive Other Total Available Resources Above 2. $ $ Estimated Amount To Be Covered By Your Family (from #1 above) $ Subtract Total Available Resources (from #2 above) Remaining Costs To Be Covered $ $ You may choose to convert the remaining costs into a monthly payment, using one or more of the programs outlined on page 8. To estimate monthly payments, log on to PennPlan online and use an interactive calculator. INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF

15 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL MATION FOR FINANCIAL AID RECIPIENTS How to Apply for a State Grant You are required to apply for a state grant if you are a legal resident of any state listed below. University aid is not available to replace state grants if you do not fulfill the application requirements. Application Instructions Complete the FAFSA by April 15, 2014 or earlier if required by your state Residents of the District of Columbia and Vermont must also file a state application State Agency Connecticut Department of Higher Education 61 Woodland St. Hartford, CT Delaware Higher Education Office John G. Thousand Blvd. 401 Federal St. Dover, DE DC Leap Grant Program D.C. State Education Office 810 1st Street NE 3rd Floor Washington, DC The Massachusetts Board of Higher Education Office of Student Financial Assistance 454 Broadway, Suite 200 Revere, MA Ohio Board of Regents State Grants and Scholarships Department 30 E. Broad Street, 36th Floor Columbus, OH Pennsylvania Higher Education Assistance Agency (PHEAA): State Grant and Special Programs P.O. Box 8157 Harrisburg, PA Rhode Island Higher Education Assistance Authority: Scholarship and Grant Department 560 Jefferson Boulevard Warwick, RI Vermont Student Assistance Corporation (VSAC) Attn: Grant Program P.O. Box 2000 Winooski, VT West Virginia Higher Education Grant Program 1018 Kanawha Boulevard East, Suite 700 Charleston, WV Contact Information (860) (800) (302) (202) (807) osfa@osfa.mass.edu (617) (888) (614) (800) (717) (401) (800) (800) (877) (304) FAFSA Deadline (Must be received by:) State Grant Application March 14, 2014 March 14, 2014 April 15, 2014 April 15, 2014 April 15, 2014 April 15, 2014 April 15, 2014 March 1, 2014 As soon as possible after January 1, Grants are considered on a first-come, firstserve basis, pending availability of funds. April 15, 2014 N/A Apply online at or Obtain a paper application from your high school or library after you file a FAFSA N/A N/A N/A N/A Complete the Vermont grant application. The FAFSA confirmation page will provide a link that will take you to the myvsac registration page. N/A 11 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018

16 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFO How to File a FAFSA (Free Application for Federal Student Aid) You must file a FAFSA to receive funds from any federal or state program, including work-study, federal grants, state grants, the Direct Loan for students and the Direct PLUS Loan for parents. File a FAFSA by April 15, 2014 (Residents of Rhode Island and Vermont see page 11 for your earlier deadline) File online at or Complete and return a FAFSA paper application, available from your high school Important Tip: Make sure the University of Pennsylvania, 3451 Walnut Street, Philadelphia, PA , is listed. Penn s Federal School Code is Use the IRS Data Retrieval Tool when filing a FAFSA This tool enables you to retrieve your and your parents tax information from the IRS and transfer it directly to your FAFSA. We recommend you use this tool for several reasons: It is the easiest way to provide your tax data. It s the best way to ensure accurate tax information on your FAFSA. It may avoid delays in processing your financial aid. It simplifies the federal verification process For more information, visit the FAFSA website at Review your Student Aid Report (SAR), which you will receive after you submit the FAFSA: You must review all the information on Part 2 of the SAR for accuracy, especially if you completed the application before you and your parents completed 2012 federal income tax returns. If the data is accurate, keep the SAR for your records. If corrections are needed, make them online at or on Part 2 of the paper SAR. To check the status of your FAFSA application, or request a duplicate Student Aid Report (SAR), call the Federal Student Aid Information Center at or visit Note on Social Security Numbers Student Financial Services (SFS) requires that you provide your full social security number on all financial aid applications. Your social security number enables SFS to process required interfaces with The College Board and U.S. Department of Education, thereby ensuring that your application is complete and evaluation can begin. Please note that SFS is committed to ensuring the security of your information. INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF

17 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL MATION FOR FINANCIAL AID RECIPIENTS Receiving and Paying Your Bill Penn.Pay Penn.Pay is Penn s online billing system through which you receive your student account bill. You can also review new activity on a daily basis and opt to pay your bills, securely and efficiently. In order for your parents to access Penn.Pay, you must invite them to be other payers. Review the Penn.Pay section of the MUST DO List on page 15 for instructions. Student Account Bill Presentation and Payment System Receiving Your Bill Notification that your student account billing statement is available will be sent to your University address, beginning with the Fall Term July statement. (In July and August only, Penn will also mail a paper bill to the street address we have on record.) See the billing schedule below for details. Paying Your Bill* There are several ways to pay your bill: Online using ACH Use Penn.Pay to schedule both the payment date and amount to pay from your checking or savings account. Accounts must be with a U.S. financial institution. Online using American Express Use Penn.Pay and pay with your American Express Card. A 2% convenience fee will be assessed and will appear on your American Express billing statement. Note that Penn does not receive any compensation or portion of the convenience fee for providing American Express as a payment option. Check Pay from a U.S. checking or savings account. Payment coupons must accompany your payment. Payment coupons are attached to the bottom of your billing statement, or print one from Penn.Pay. Wire Transfer See the SFS website for details, or askben at In Person Present your payment coupon and check to the University Cashier, located in the lobby of the Franklin Building, 3451 Walnut Street. Payment coupons are attached to the bottom of your billing statement or print one from Penn.Pay. A late payment penalty of 1.5% of any past-due balance will be assessed monthly. A past-due balance may result in your student account being placed on financial hold which can restrict future registration, receipt of your diploma and transcript requests. Billing Schedule E-Bill Sent Due Date Bill Type Fall Term July 1, 2014 July 29, 2014 Paper and E-bill Spring Term December 2, 2014 January 7, 2015 E-bill only Monthly Bills First week of each month Last week of each month E-bill only For additional information about Penn.Pay, visit the SFS website or askben at *Note that information on this page is accurate at time of publication. Please check the SFS website for the most up-to-date information. 13 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018

18 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFO Legal Statements Student Statement of Responsibility I AGREE to report to Student Financial Services any additional resources that become available to me from any source during this academic year, and I understand that any additional resources will result in an adjustment of my financial aid award in accordance with University policy. I AGREE to report promptly to Student Financial Services any beneficial or adverse changes in my or my family s financial circumstances for this academic year as soon as they occur. Examples of such changes are reemployment or loss of employment for a parent, change in college plans for another family member, and changes in residency status (from resident to commuter). Should the calculation of my financial need change, I understand that the funds awarded to me may be adjusted accordingly. I AGREE that if I withdraw or cease to carry the required number of course units I will report to Student Financial Services to arrange for repayment of aid advanced to me for which I am no longer eligible. I UNDERSTAND that in order to continue to receive the assistance listed on my financial aid notice, I must maintain satisfactory progress in the course of study I am pursuing according to the standards and practices of the University of Pennsylvania. I am not in default on any loan made, insured, or guaranteed under federal student assistance programs. I agree to notify Student Financial Services in writing if I am in default of any federal student assistance program. I have carefully read this agreement and the information in this booklet and agree to the conditions stipulated. I understand that failure to comply with these provisions could result in cancellation of my financial aid award. FERPA The Family Educational Rights and Privacy Act (FERPA) is a federal law that protects the privacy of student education records. The law applies to all schools that receive funds under an applicable program of the U.S. Department of Education. Your educational information, both financial and academic, is yours regardless of who pays your educational expenses. The law requires that students provide written permission before we can share either financial or academic information with any third party, including parents or spouses. To stipulate with whom SRFS can speak about your student billing account and academic record, review Share Academic/ Financial Information on the MUST DO List on page 15. Non-Discrimination Statement The University of Pennsylvania values diversity and seeks talented students, faculty, and staff from diverse backgrounds. The University of Pennsylvania does not discriminate on the basis of race, sex, sexual orientation, gender identity, religion, color, national or ethnic origin, age, disability, or status as a Vietnam Era Veteran or disabled veteran in the administration of educational policies, programs, or activities; admissions policies; scholarship and loan awards; athletic or other University administered programs or employment. Questions or complaints regarding this policy should be directed to: The Executive Director Office of Affirmative Action and Equal Opportunity Programs 3600 Chestnut Street Suite 228, Sansom Place East Philadelphia, PA (voice) (TDD) INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF

19 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCI INFORMATION FOR FINANCIAL AID RECIPIENTS SRFS Must Do List Note: To complete this list, login to Penn InTouch, using your secure PennKey and password, which will be sent to you in May. Penn InTouch is your secure gateway to academic, financial and personal information. Provide your Emergency Contact Information Penn s Division of Public Safety encourages you to provide personal emergency contact information for use with the UPennAlert Emergency Notification System & Penn Guardian. Providing current information is the best way to ensure you will be reached in the event of an emergency. Partner with Penn by providing a phone number (preferably a cell phone) where you can best be reached. You may also register other contacts such as parents or guardians, so that University officials can communicate with them as well. UPenn Alert: From Penn InTouch, select Profile, privacy & emergency, then Emergency Contact to enter your information to register for UPennAlert. Penn Guardian: To learn more, and register for, Penn Guardian, visit Give Permission to Share Academic/Financial Information By federal law (FERPA), the University generally cannot discuss your academic or financial records with a third party, including your parents. To authorize Penn to share academic and/or financial data with a parent, guardian, sponsor or other third party, you must designate them explicitly. Read more about FERPA on the next page. From Penn InTouch, select Profile, privacy & emergency, then Share Academic/Financial Information. Setup Penn.Pay Users and Payment Accounts for your Student Bills Penn.Pay is Penn s online billing and payment system. As a student, you can access Penn.Pay with your PennKey. To enable others (such as parents) to also receive/pay your bill, you must invite them as an other payer. From Penn InTouch, select Student Billing Account, then Paying Your Bill/Penn.Pay. Enroll in Direct Deposit As part of Penn s sustainability initiative, the University does not issue paper checks. Enroll in Direct Deposit, as you may receive wages from a work-study job, other campus employment, or receive a student account refund. Direct Deposit ensures your funds will be deposited to your personal US bank account. To enroll in Direct Deposit, go to Penn InTouch, select Student Billing Account then Enroll in Direct Deposit. Note: If you do not enroll in direct deposit and subsequently earn wages or become eligible for a refund, payment will be made via a PayCard (VISA debit card). Per US Treasury regulations, the University must have your social security number on file to produce a PayCard. 15 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018

20 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS AL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 Checklist for the Next Steps Deadlines 1. To the Admissions Office Use the Say Yes link on the Decision Portal to confirm May 1, 2014 your place in the class. Send your Enrollment Deposit per instructions on My Checklist May 1, 2014 in the Decision Portal. 2. To Student Financial Services (SFS) Fax or document(s) using the enclosed SFS Cover Sheet Parents 2013 Federal Tax Return & W-2 Forms Include all pages and schedules Student s 2013 Federal Tax Return & W-2 Forms Include all pages and schedules Cover Sheet and Tax I.D. Form (enclosed) Submit with tax returns. If you or your parents did not, or will not, file taxes in 2013, you must still sign and submit this form. Outside Scholarships Report all outside scholarships and grants promptly. Mail subsequent checks to the Outside Scholarship address As soon as possible As soon as possible As soon as possible As soon as possible 3. To Federal Student Aid Programs FAFSA: Apply online at April 15, To Outside Agencies State Grants Residents of Connecticut, Delaware, Massachusetts, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia and the District of Columbia see page 12 SAR: Review your Student Aid Report (SAR) for accuracy June 15, Payment Options (if you choose to participate) Enroll in the Penn Monthly Budget Plan May 31, 2014 Apply for the Federal Direct Loan (for students) June 15, 2014 Apply for the Federal Direct PLUS Loan after May 15 (for parents) June 15, 2014 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF

21 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCI INFORMATION FOR FINANCIAL AID RECIPIENTS How to Contact Student Financial Services Website askben Our self-service tool, askben, answers commonly asked questions 24/7 Located throughout the SFS website PennPlan online Select PennPlan online General Questions sfsmail@exchange.upenn.edu Penn Monthly Budget Plan budgetpl@exchange.upenn.edu Tuition Prepayment Plan Tuition stuloans@exchange.upenn.edu Documents srfsdocs@exchange.upenn.edu We can accept these attachment types only:.pdf.tif.doc.docx.txt.jpg.rtf.xls.xlsx. We cannot accept compressed or zipped files. Please note that ing documents may compromise their security. Fax Please include the enclosed SFS Cover Sheet Telephone Mailing Address Mailing Address for Outside Scholarships Campus Address for Walk-in Service Appointments Student Financial Services University of Pennsylvania 005 Franklin Building 3451 Walnut Street Philadelphia, PA Outside Scholarship Office University of Pennsylvania 140 Franklin Building 3451 Walnut Street Philadelphia, PA Room 100 Franklin Building 3451 Walnut Street An Assistant Director is usually available during office hours Call in advance if you wish to schedule an on-campus appointment Telephone appointments are also available during office hours Office Hours Monday, Wednesday, Thursday & Friday 9:00 a.m. 5:00 p.m. Tuesday 10:00 a.m. 5:00 p.m. Assistant Directors Your Last Name Your Assistant Director Your Last Name Your Assistant Director A-Bor Bos-Con Coo-Fh Fi-Haq Har-Kam Kan-Lev George Walker Frank Banecker Silvia Hanks Sidney Picht Nichole Moore Joe Chandler Lew-Meh Mei-Paq Par-Ros Rot-Sr Ss-Wan Wao-Z Sharon Scott Fred Poindexter Gerri Pettey Dennis Drumm Will Ricksecker Karen McGettigan 17 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018

22 INANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS AL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 Notes FOR GENERAL QUESTIONS Use askben to answer your general questions 24/7. Find askben at INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF

23 CLASS OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR F OF 2018 INFORMATION FOR FINANCIAL AID RECIPIENTS CLASS OF 2018 INFORMATION FOR FINANCI INFORMATION FOR FINANCIAL AID RECIPIENTS Other Contacts Penn Websites Campus Express Overview of key services for life at Penn Office of the University Registrar Transcripts, course offerings and descriptions, academic records Penn InTouch Your secure gateway to academic, financial and biographical information PennKey Your individual identity key that provides access to many of Penn s networked systems and services. PennPlan online An interactive, web-based financial planning tool Penn Portal Access campus information and manage transactions Student Employment Office Student employment information and non-work study jobs Student Financial Services Forms, general information, and askben, the SRFS 24/7 question and answer tool University of Pennsylvania Penn s website Other Useful Contacts FAFSA (800) Penn Federal Code: Outside Scholarship Listings U.S. Dept. of Education (800) 4-FED-AID (800) Photos by University Communications PAYING FOR A PENN EDUCATION FINANCIAL RESOURCE GUIDE CLASS OF 2018